The National Stock Exchange of India Limited on 3rd February 2021, in order to increase the transparency and to safeguard the client’s assets lying with the members, the periodicity of ‘Statement of Accounts’ which is currently sent by members to clients on quarterly or monthly basis is revised to weekly basis.
Further all members will continue to send monthly/quarterly ‘statement of accounts’ containing an extract from the client ledger for funds, an extract from the register of securities/commodities displaying all receipts and deliveries of securities/commodities and a statement explaining the retention of funds/commodities within 5 days from the date of settlement.
The Member shall send a complete ‘Statement of Accounts’ for funds and securities/commodities in respect of each of its clients on weekly basis from Monday to Saturday for each week and the client shall bring any dispute arising from the statement of account to the notice of the member preferably within 7 working days from the date of receipt of statement.
The Members, while sending a periodical statement of accounts to the clients, shall mention therein that their running account authorization would continue until it is revoked by the clients.
Further, the Members are requested to note that, the aforementioned requirement shall be applicable from the week ending on March 06, 2021 due date of which will be March 12, 2021 and for each week thereafter.
